Examples of Ancillary Equipment Site Lease in a sentence
The parties agree that consideration for the processing rights granted Xxxxx R&M under this Section 3.5(a) has been given to the Xxxxx Company in the form of a reduction in the rent payable that would otherwise be payable pursuant to Section 13.1(a)(i) of the Ancillary Equipment Site Lease.
At the expiration of the Ancillary Equipment Site Lease Term the Ancillary Equipment Easement granted and conveyed herein shall wholly terminate and revert to the Lessor.
The only relationship between Lessor and Lessee established and evidenced by this Ancillary Equipment Site Lease is the relationship of landlord and tenant, and the only estates intended to be conveyed to Lessee or otherwise evidenced hereby are the leasehold estate of Lessee in and with respect to the Ancillary Equipment Site and the Ancillary Equipment, and the appurtenant easement estates as herein expressly provided.
The Lessee covenants and agrees that at the end of the Ancillary Equipment Site Lease Term it will peaceably and quietly yield up and surrender possession of the Ancillary Equipment Site and any property thereon to the Lessor.
Captions and headings in this Ancillary Equipment Site Lease are for reference only and do not constitute a part of the substance of this Ancillary Equipment Site Lease.
The term of this Ancillary Equipment Leasehold (the "Ancillary Equipment Site Lease Term") shall commence on the date hereof and, unless this Ancillary Equipment Site Lease is sooner terminated pursuant to the provisions hereof, the Ancillary Equipment Site Lease Term shall end on the last day of the Ancillary Equipment Site Initial Term or, if this Ancillary Equipment Site Lease is renewed pursuant to Section 20.2 hereof, on the last day of the last Ancillary Equipment Site Renewal Term.
At the end of the Ancillary Equipment Site Lease Term Lessee shall surrender the Ancillary Equipment to Lessor in good order, subject to depreciation, ordinary wear and tear and casualty loss, and lessee shall have no right or option to remove all or any portion of the Ancillary Equipment upon expiration or termination of the Ancillary Equipment Site Lease Term.
The rights and obligations of the parties to the Ancillary Equipment Site Lease shall be binding upon, and shall inure to the benefit of, the respective permitted successors and assigns of the parties (but without affecting any restrictions on assignment and subletting set forth in the Ancillary Equipment Site Lease).
All defined terms used in this Memorandum shall have the respective meanings provided for such defined terms in the Ancillary Equipment Site Lease.
During the Ancillary Equipment Site Lease Term, the Lessor and its authorized representatives may, at their own expense, at reasonable times and by appointment on reasonable notice, inspect the Ancillary Equipment Site and the Ancillary Equipment and any other property located on the Ancillary Equipment Site.